78TH CONG. , 2 D SESS.-CH. 63-FEB . 25 ,1944 SEC. 602 . CREDIT AGAINST FEDERAL UNEMPLOYMENT TAXES FOR YEARS 1936 TO 1942. (a) ALLOWANCE OF CREDIT AGAINST TAX FOR 1936, 1937, AND 1938. - Against the tax imposed by section 901 of the Social Security Act for the calendar year 1936, 1937, or 1938, any taxpayer shall be allowed credit (if credit is not allowable under section 902 of such Act) for the amount of contributions paid by him into an unem- ployment fund under a State law- (1) Without regard to the date of payment, to the extent here- inafter provided in this subsection; (2) Without regard to the date of payment, with respect to wages paid after September 19, 1939; (3) Without regard to the date of payment, if the assets of the taxpayer were, at any time during the period August 11, 1939, to October 8, 1939, inclusive, or the period October 9, 1940, to December 6, 1940, inclusive, or the period September 21, 1941, to November 18, 1941, inclusive, in the custody or control of a receiver, trustee, or other fiduciary appointed by, or under the control of, a court of competent jurisdiction. The provisions of the Social Security Act in force prior to February 11, 1939 (except the provision limiting the credit to amounts paid before the date of filing returns), shall apply to allowance of credit under this subsection; except that the amount of credit against the tax for the calendar year 1936, 1937, or 1938, for contributions paid after December 6, 1940, shall not (unless the credit is allowable on account of paragraph (2) or (3)) exceed 90 per centum of the amount which would have been allowable as credit on account of such contributions had they been paid before the last day upon which the taxpayer was required under section 905 of such Act to file a return for such year. The terms used in this subsection shall have the same meaning as when used in title IX of such Act prior to February 11, 1939. The total credit allowable against the tax imposed by section 901 of such Act for the calendar year 1936, 1937, or 1938 shall not exceed 90 per centum of such tax. (b) ALLOWANCE OF CREDIT AGAINST TAX FOR 1939, 1940, 1941, AND 1942 WHERE ASSErs IN CONTROL OF CourT.- Against the tax imposed by the Federal Unemployment Tax Act for the calendar year 1939, 1940, 1941, or 1942, any taxpayer shall be allowed credit for the amount of contributions paid by him into an unemployment fund under a State law, without regard to the date of payment, if the assets of the taxpayer were, at any time during the period from the last day upon which the taxpayer was required under section 1604 of the Federal Unemployment Tax Act to file a return of the tax against which credit is claimed to June 30 next following such last day, inclusive, or (in the case of credit against the tax for the calendar year 1939) the period October 9, 1940, to December 6, 1940, inclusive, or the period September 21, 1941, to November 18, 1941, inclusive, or (in the case of credit against the tax for the calendar year 1940) the period Septem- ber 21 1941, to November 18, 1941, inclusive, in the custody or control of a receiver, trustee, or other fiduciary appointed by, or under the control of, a court of competent jurisdiction. The provisions of the Federal Unemployment Tax Act (except section 1601 (a) (3)), includ- ing such provisions as modified by section 902 (e) of the Social Security Act Amendments of 1939, shall apply to allowance of credit under this subsection. The terms used in this subsection shall have the same meaning as when used in the Federal Unemployment Tax 49 Stat. 639. 42U.S.C. § 1101, 1102; Supp. III, §§ 1101,1102 notes. 49 Stat. 620. 42 U. . H .i301d mi. 49 Stat. 641 . 42U.S.C.I1106. 49 Stat. 639-46 . 42U.S.C. §1101- 1110; Supp. ii,I§ 1101-1109 notes. 63 Stat. 183,1396. 26U.S.C. f1600- 1611. Ante, p. 76. 53 Stat. 186. 26U. S. C. i1604. Aste, p. 76. 53 Stat. 1400 . 26 U. S.. SC. note. 58 STAT.] 77
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